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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/us-lists-spot-eth-etf" data-wpel-link="internal" rel="noopener noreferrer nofollow">US Lists Spot ETH ETF</a><br></p>
<p style="text-align: justify">The US <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">stock markets</a> are set to introduce a spot ETH ETF, prompting investors to brace for an anticipated surge in volatility. This move signifies a significant step as it indicates a partial recognition of altcoins’ legitimacy by the US. Historically, after Bitcoin’s acceptance, its value hit record highs, suggesting a potential similar trajectory for Ethereum.</p>
<h2 id="bitcoin-price-movements">Bitcoin Price Movements</h2>
<p style="text-align: justify">BTC faces critical levels with two potential paths: maintaining its position above $65,000 or declining towards $60,000. If Bitcoin withstands the key threshold, it could achieve new peaks above $70,000. The ETF’s demand remains strong, with investors eyeing a performance comparable to the first quarter as the year-end approaches. This scenario might also ignite rallies in previously suppressed altcoins.</p>
<p style="text-align: justify">On July 21, Bitcoin rebounded from $66,000, encountering resistance at $68,500. Short-term profit-takers managed to bring the price down. A dip below $66,000 could lead to a support level at the $63,799 SMA50 point. Conversely, a recovery from this support might aim for $72,000 and $73,777. However, closures below the SMA50 could risk a downturn to $61,126. Optimistically, the ETF event could bolster the price.</p>
<h2 id="what-does-the-ethereum-etf-mean">What Does the Ethereum ETF Mean?</h2>
<p style="text-align: justify">Today marks a milestone for Ethereum (ETH) as the first altcoin ETF begins trading in the US. This event undermines Gensler’s long-standing position that Ether is a security. Additionally, it sets a precedent for similar altcoins like <a href="https://en.bitcoinhaber.net/solayer-hits-20-million-in-deposits" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> (SOL), highlighting the importance of ETF applications.</p>
<p style="text-align: justify">On July 19, Ethereum’s price climbed above the $3,425 SMA50 level but has since struggled to gain momentum. Continued weakness could result in a drop to $3,246 and potentially touch $3,000 if the SMA50 is breached. For a bullish outcome, the price needs to secure a close above $3,600, aiming for the key resistance at $4,094, with the backing of the ETF news.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">Investors should consider the following points:</p>
<ul>
 <li>Monitor Bitcoin’s critical levels for potential new peaks or declines.</li>
 <li>Recognize the significance of the spot ETH ETF for Ethereum and similar altcoins.</li>
 <li>Evaluate Ethereum’s price movements in relation to the $3,425 and $3,600 levels.</li>
 <li>Stay alert to potential volatility induced by the ETF listing.</li>
</ul>
<p style="text-align: justify">The ETF event today is expected to have substantial implications for both Bitcoin and Ethereum, potentially driving significant market movements <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">in the near future</a>.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/us-lists-spot-eth-etf" data-wpel-link="internal" rel="noopener noreferrer nofollow">US Lists Spot ETH ETF</a></h5>

US Lists Spot ETH ETF

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Інші статті, опубліковані 22 лип. 2024 р.

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